Q: When should I file my FAFSA application?
A: It is recommended that applicants file the FAFSA as soon after January 1 as possible.
Q: Do I need to file a FAFSA every year?
Q: Do we need to file our Federal Income Tax Returns before completing the FAFSA?
A: Ideally, the FAFSA should be completed after the federal tax return has been filed. However, applicants can file the FAFSA earlier (using prior year federal income tax information and estimates) and then return to the saved FAFSA to retrieve data once federal taxes have been completed. Applicants will be able to use the FAFSA - IRS Data Retrieval process to transfer certain federal tax return information from an Internal Revenue Service (IRS) website directly to their Free Application for Federal Student Aid (FAFSA) on the Web at the time of initial FAFSA completion or when making online corrections to the FAFSA.
Q: What is the deadline to file my FAFSA?
A: Completed FAFSA results must be received by the Financial Aid Office no later than March 1 annually for full consideration of Carroll College need based aid.
Q: Do I need to include parent information on the FAFSA if they do not claim me on their taxes?
A: Yes, unless the student meets Independent Student Status as defined on the FAFSA application. The definition of dependency differs for tax filing and FAFSA filing purposes. Dependent students are required to include parent information on the FAFSA. Per IRS Publication 17, the IRS defines the term dependent as a qualifying child or relative. For the FAFSA, several criteria are used to determine dependency status. For more information visit the FAFSA website.
Q: Do I need to include parent information on the FAFSA if they do not support me financially?
A: Yes, unless the student meets Independent Student Status as defined on the FAFSA application.
Q: How does Carroll College receive my FAFSA information?
A: FAFSA results are sent to the school electronically from the Department of Education. Applicants must have the Federal School Code for Carroll College listed on the application in order for the school to receive the electronic processed results.
Q: What is the Federal School Code for Carroll College?
Q: How do I make corrections to my FAFSA?
A: Applicants may go online to a saved FAFSA application to make corrections or the applicant may print a copy of the Student Aid Report, make corrections, sign and submit the report to the Financial Aid Office. If the applicant is a dependent student, both the student and parent must sign the Student Aid Report.
Q: What is the IRS Data Retrieval Tool?
A: The IRS Data Retrieval Tool allows certain applicants who have already filed federal income tax returns to update some questions on the FAFSA by transferring data from the federal income tax return via the IRS’ database into the FAFSA. This reduces time, effort and errors when completing the FAFSA. It may also reduce the likelihood that an applicant’s FAFSA will be selected for verification. If selected for verification, successful use of the IRS Data Retrieval Tool may be necessary to complete the process. For additional information, refer to Verification Questions.
The IRS Data Retrieval Tool can be used when filing the initial or renewal FAFSA or when making a correction. If an applicant files the FAFSA using estimated income data, the applicant can use the IRS Data Retrieval Tool after filing his/her federal income tax returns to update the FAFSA form. Generally, the IRS Data Retrieval Tool can be used 1-2 weeks after the federal income tax return is filed if the return is filed electronically and 6-8 weeks after filing a paper return.